Airblox, a new online marketplace that allows users to trade electronic block space agreements (eBSAs™), has added Vietnamese freight forwarder HPW Cargo.
The Hanoi-headquartered freight forwarder, with offices in Ho Chi Minh City, as well as Hai Phong and Noi Bai airports, will now list its recurring block space agreement (BSA) positions on the Hanoi to Frankfurt lane this summer.
Established in 2009, HPW Cargo offers a full range of services, including air freight, warehouse and distribution, customs brokering, in-land transportation, and ocean freight. The forwarder will join French air charter broker Avico who started listing its freighter capacity on the Airblox platform in June.
For Airblox, this is the company’s maiden entry into Southeast Asia. The fintech company has developed a platform that enables brokers, freight forwarders, and airlines to trade cargo capacity in the form of eBSAs™.
A BSA is the purchase of an agreed capacity or space on the flight of an airline or a carrier. Buyers of capacity can bid for, buy outright, or block space from the holder of an agreement electronically using these eBSAs™.
Harris Hieu, sales manager at HPW Cargo, believes that the Airblox business model is the future of air cargo space sale. The platform now has over 2000 lanes listed, with predictive analytics and pricing forecast on major cargo lanes. It claims to be the first online platform to enable air cargo capacity to be traded in a blockchain infrastructure ensuring secure transactions.